MONTREAL, March 17, 2020 /CNW Telbec/ - In response to the economic and financial situation caused by COVID-19, National Bank announces a series of measures to support its Personal and Commercial Banking clients experiencing difficulties.
"Our experts are committed to supporting our clients and answering their questions in these uncertain times," said Louis Vachon, President and Chief Executive Officer of National Bank. "We've always been there to help our clients when things are going well, but we are also there when things get tough. That is the heart of our commitment."
"I'm fully confident that the right actions have been taken by financial institutions and governments alike to ensure that the financial and economic support offered is in line with what the circumstances require. By limiting the spread of the virus, we'll all be investing in resolving the situation, regaining our health and getting back to normal."
Measures for Personal Banking clients
Clients who are directly affected by the current situation and may have difficulty making their payments could be eligible for special measures on different products. We're asking any affected clients to contact National Bank so we can work out solutions, on a case-by-case basis, depending on their personal situation. These measures may include payment deferrals of up to six months on mortgages, for example, or longer amortization periods. Special loans to cover living expenses may also be offered.
Measures for Commercial Banking clients
Business clients who find themselves in difficulty due to current events will also be able to benefit from flexible solutions tailored to their specific situation and industry. Our experts will assess each situation and account managers will find solutions based on the client's individual situation.
Clients wishing to take advantage of the relief measures are invited to get in touch with their usual point of contact.
About National Bank of Canada
With $289 billion in assets as at January 31, 2020, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has more than 26,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.
SOURCE National Bank of Canada
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Claude Breton, Vice-President - Communications and Corporate Social Responsibility, National Bank of Canada, claude.breton@nbc.ca, Tel.: 514-394-8644Copyright CNW Group 2020